Norbord Inc (OSB) Receives Consensus Rating of “Hold” from Analysts
Shares of Norbord Inc (NYSE:OSB) have been given an average rating of “Hold” by the ten research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $40.33.
Several equities research analysts recently issued reports on the stock. ValuEngine downgraded shares of Norbord from a “hold” rating to a “sell” rating in a research note on Monday, July 30th. Zacks Investment Research upgraded shares of Norbord from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a research note on Saturday, July 21st. Buckingham Research raised their target price on shares of Norbord to $36.00 and gave the company a “neutral” rating in a research note on Monday, May 7th. Bank of America raised their target price on shares of Norbord from $34.00 to $35.00 and gave the company an “underperform” rating in a research note on Friday, May 4th. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of Norbord in a research note on Wednesday, May 2nd.
NYSE:OSB traded up $0.33 during mid-day trading on Friday, hitting $42.23. The stock had a trading volume of 191,486 shares, compared to its average volume of 181,988. Norbord has a twelve month low of $32.22 and a twelve month high of $45.45. The company has a market capitalization of $3.72 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 1.25 and a beta of 2.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.83 and a current ratio of 2.69.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Saturday, September 1st will be given a dividend of $3.459 per share. The ex-dividend date of this dividend is Thursday, August 30th. This is an increase from Norbord’s previous quarterly dividend of $0.47. This represents a $13.84 annualized dividend and a yield of 32.76%. Norbord’s dividend payout ratio (DPR) is 41.20%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Norbord by 5.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,727,194 shares of the construction company’s stock valued at $112,077,000 after buying an additional 146,300 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Norbord by 24.4% in the second quarter. Acadian Asset Management LLC now owns 2,337,800 shares of the construction company’s stock valued at $96,071,000 after buying an additional 459,177 shares in the last quarter. Royal Bank of Canada raised its position in shares of Norbord by 14.2% in the first quarter. Royal Bank of Canada now owns 1,952,515 shares of the construction company’s stock valued at $70,935,000 after buying an additional 243,274 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Norbord by 62.8% in the second quarter. TD Asset Management Inc. now owns 931,503 shares of the construction company’s stock valued at $38,281,000 after buying an additional 359,456 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of Norbord by 61.5% in the first quarter. Hillsdale Investment Management Inc. now owns 740,148 shares of the construction company’s stock valued at $26,831,000 after buying an additional 281,800 shares in the last quarter. Institutional investors own 77.42% of the company’s stock.
Norbord Company Profile
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.
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